Around the P&C insurance industry: March 22, 2023
Insurance industry news from Cover Genius, Openly, itel and more.
World Insurance Associates LLC acquired the business of Hadley & Lyden, Inc. of Winter Park, Florida on March 1, 2023. Terms of the transaction were not disclosed.
International General Insurance Holdings Ltd. acquired Norway-based managing general agency Energy Insurance Oslo AS. The transaction included the acquisition of all outstanding shares of EIO. The entity, which is expected to be renamed IGI Nordic AS, is a subsidiary of Bermuda-based International General Insurance Co. Ltd.
Cover Genius acquired warranty provider, Clyde Technologies. The assets acquired will assist Cover Genius’ continued expansion into the medium-sized e-commerce segment. The acquisition enhances the company’s mission to protect all the customers of the world’s largest digital companies and aligns with their growth strategy, which most recently included the successful acquisition and integration of Booking Protect, a provider of refund protection for live entertainment events, which is forecasted to grow 80% in 2023.
NFP announced Philpott Meeks, LP, a business management consulting firm located in Los Angeles, California, will become part of NFP’s rebranded Ground Control Business Management, the Los Angeles-based firm serving high net worth individuals, entertainment industry executives, entertainers and professional athletes, among others. Philpott Meeks joined NFP in February.
World Insurance Associates LLC acquired the business of Henri D. Kahn Insurance Service, LLC, of Laredo, Texas on March 1, 2023. Terms of the transaction were not disclosed.
I-CAR earned a 2023 Top Workplaces USA award, which recognizes and celebrates organizations across the country that have built exceptional, people-centric workplace cultures. The award is issued annually by Energage, with a 15-year history of surveying more than 20 million employees and recognizing the top organizations across 60 markets for regional Top Workplaces awards.
Openly was named one of Forbes’ 2023 America’s Best Startup Employers. The company ranked number 320 on the list for its continued growth and exceptional employee satisfaction.
itel, a data and technology company that optimizes the property insurance claims process, announced an organizational restructure that will deliver broadened, integrated solutions to the property insurance industry. The company, now known as ‘itel,’ has consolidated two independently operated business units — Renovar and Housing Headquarters — under the itel brand.
Hilb Group acquired a Texas-based agency that specializes in benefits enrollment and administration. The transaction became effective February 1, 2023.
Coaction Global, Inc, a privately-owned specialty property and casualty insurance company, announced the company has become the first commercial P&C insurance company to become a certified B Corporation.
Vertafore added commercial auto insurance to the lines of business available for small commercial rating and quoting on Commercial Submissions.
Related: